There are fewer young homeowners in the region’s suburbs, as more people in their 20s and 30s seek the lifestyle offered by the area’s urban communities, new census data show. The shift is a product of changing population trends — including the rise of the city during the last decade — and the housing crisis that left many potential homeowners gun-shy.
The region’s suburbs of Fairfax, Loudoun, Prince William, Montgomery and Prince George’s counties all recorded decreases in the percentages of homeowners there who were younger than 45 years old. The biggest decreases were seen in 35-to-44-year-olds.
| Young homeowners dwindle in ‘burbs, zero in on city | |||||||||||
| Total owned | Share of age 15-34 | Change in share | Share of age 35-44 | Change in share | Share of age 45-54 | Change in share | Share of age 55-64 | Change in share | Share of age 65+ | ||
| District | 112,055 | 14.8% | +2.6 | 19.4% | +0.9 | 18.9% | -3.7 | 20.2% | +2.2 | 26.7% | -2.0 |
| Alexandria | 68,082 | 10.2% | +0.7 | 21.9% | -0.6 | 20.8% | -4.4 | 21.4% | +3.8 | 20.2% | +0.6 |
| Arlington | 98,050 | 16.3% | +2.1 | 22.2% | -0.5 | 21.2% | -4.4 | 20.6% | +4.1 | 19.7% | -1.3 |
| Fairfax | 391,627 | 10.4% | -1.6 | 19.7% | -6.5 | 27.2% | -1.7 | 23.5% | +5.5 | 19.3% | +4.3 |
| Loudoun | 104,583 | 14.4% | -7.2 | 30.3% | -4.1 | 28.3% | +5.5 | 15.8% | +3.6 | 11.1% | +2.2 |
| Prince William | 130,785 | 14.6% | -3.2 | 24.5% | -6.8 | 28.3% | +1.4 | 19.3% | +4.2 | 13.3% | +4.5 |
| Montgomery | 357,086 | 8.5% | -2.5 | 8.5% | -6.4 | 26.6% | +0.1 | 23.2 | +6.1 | 23.3% | +2.7 |
| Prince George’s | 304,042 | 9.7% | -2.7 | 19.7% | -6.3 | 26.4% | -0.4 | 23.5 | +5.3 | 20.7% | +4.1 |
| Source: U.S. Census Bureau | |||||||||||
Meanwhile, homeowners older than 55 grew their share of the market in suburban counties and 45-to-54-year-olds increased in most counties.
Baby boomers, in their 50s and 60s for the most part, are the area’s largest group of homeowners, said John McClain, deputy director of George Mason University’s Center for Regional Analysis. “And they’re staying in place,” he said. “One of the things this indicates for the D.C. area is … they’re not all leaving for Florida. That may say a little something about the quality of life here.”
Meanwhile, younger homeowners are grabbing a larger share of the market in urban areas. The largest changes were seen in homeowners 34 years old and younger in the District, Arlington and Alexandria.
That change is largely attributed to those in their late 20s and early 30s while ownership decreased among those younger than 24 — indicating that young professionals are waiting longer to buy a home.
McClain said the housing crash scared off potential buyers and also made it harder for younger people to qualify for a loan.
The shift to urban areas is also a product of more condominium development and the trend toward city living seen in the last decade.
“I think ‘urban’ used to be a little bit of a dirty word in some communities, but now it’s viewed as very positive,” said Gwen Wright, chief of the development division for Alexandria’s Department of Planning and Zoning.
She added development in Alexandria has focused in the last five years on condos and apartments near transit stops and has attracted many younger residents.
“It’s definitely what a lot of young singles and young couples are looking for,” she said.
